London’s ultra-prime residential market rebounded strongly during the first half of 2026, with cash-rich international buyers driving £1.24bn of transactions, according to Beauchamp Estates.
The agency recorded 34 sales of homes valued above £15m between January and June, up from 27 deals worth £694.1m during the same period of 2025.
This represented a 26% increase in transaction numbers and a 79% rise in their combined value. The average sale price climbed from £25.7m to £36.5m.
American and Gulf buyers accounted for 55% of the market, acquiring an estimated £682m of London property in six months.
Beauchamp Estates said these purchasers typically complete with cash to secure properties quickly before refinancing them with a mortgage, releasing capital for other investments and placing debt against the asset.
BIG TICKET DEALS
US buyers represented 30% of £15m-plus sales, with Middle Eastern purchasers accounting for a further 25%. Buyers from India and South Asia made up 15%, followed by UK purchasers at 14%.
Demand was concentrated on large, turnkey freehold houses. Some 24 houses sold for a combined £977m, compared with 17 generating £519.7m during the first half of last year.
The agency said there was limited appetite for second-hand properties requiring work, except for trophy mansions where buyers could see the potential for a significant capital uplift following refurbishment.
Two bulk investment transactions, worth a combined £67.39m, were also agreed with Gulf buyers acquiring multiple homes in new luxury apartment developments.
The largest reported transactions included the £275m sale of Providence House in Chelsea and the £195m sale of The Holme in Regent’s Park. A penthouse at Park Modern sold for £57m, while a Knightsbridge mansion achieved £55m.
Pic credit: Beauchamp Estates
Despite the increase in activity, vendors have become substantially more flexible. The average difference between asking and achieved prices widened to 16.2%, compared with 8.1% in 2025.
Jeremy Gee, managing director of Beauchamp Estates, said: “London’s ultra-prime residential market has rebounded strongly during 2026 with 34 deals for homes valued above £15 million, equating to £1.24 billion worth of property sold.
“London’s luxury homes market is being driven by American and Middle Eastern buyers who account for 55% of all the sales, purchasing a staggering £682 million worth of property in just six months.
“The London real estate market has benefitted from the booming American economy and AI/tech sector and the ongoing US-Iran-Israel war in the Middle East which has led to a significant flight of capital from the Gulf states into the London real estate market.
“Beauchamp Estates has had an extremely busy start to 2026, especially with clients from the USA and Gulf. Since April 2026 we have done five big deals, all with American buyers who have wanted homes in London’s best addresses.”
